Filipo1
Long

USDJPY - Potential reversal of bearish long-term trend.

FX:USDJPY   U.S. Dollar/Japanese Yen
64 2 3
I hope this time the chart will not be altered on publication.

RSI divergence + strong support from short-term uptrend channel and Kijun-sen could allow price action to finally break the upper Kumo resistance after 3 failed attempts.


Comment: again channel is wrongly represented...

check this one please:
snapshot
Hi sk12722, not really. I just took a small long position with tight SL 20 pips Under channel support and will add once the pair will have closed above the Kumo and a last one once the Chinkou-span will have rebounded or re-emerged up from the Kumo after retracement.
For targets on take-profit I would rely on the weekly chart taking the Kijun-sen currently at 110.22 as a first target, and would trail stop-loss to break-even when we reach lower Kumo level currently at 107.71 still on weekly.
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Hi...Thanks...do you have a target and time frame in mind ? rgds
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